for ensure that copies of the database are the same, checks are constantly undertaken by the connection.
How does a record get added to the blockchain?
Lets take the familiar characters, Alice and Bob.
Alice is selling four of her coins to Bob for $200.
The record lists details of the transaction, including a digital signature from each person and timestamp.
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Once the information has been confirmed as true, the record is accepted by the web connection.
The block is then added to the blockchain with the hash codes showing the order the blocks are connected.
This process is then repeated when another transaction is made.
It is the hash codes which keep the blockchain safe as they are difficult to change.
A hash code is created by a mathematical function that generates 64 numbers and letters.
The evolution of the blockchain
The blockchain is primarily linked to the existence of Bitcoin.
For now, though, the Bitcoin blockchains most popular use case is cryptocurrencies.
This is a decentralised ledger that lets developers create and deploy smart contracts and decentralised applications (dapps).
Another side of Ethereum is the area that focuses on dapps.
These have real-life use cases ranging from job marketplaces to virtual games.
The popularity of it reached a point when one cat wassold for $170,000.
Cardano
Home of the ADA altcoin, Cardano is a decentralized public blockchain and cryptocurrency project.
The connection uses its proof-of-stake algorithm Ouroboros, which determines how individual nodes reach a consensus about the connection.
These will enable startups and financial services to write smart contracts on the Cardano blockchain.
Stellar
Stellar is a blockchain-based ledger that is working toconnect banks, payment systems, and people.
Yet, as the Stellar internet works within banks, its considered a centralized process.
It remains to be seen what clear benefits will be seen for the end consumer.
Its also not completely decentralized.
Among its customers, it counts a number of large banks, payment providers, and currency exchange services.
These are just a few of the blockchains available.
Yet, they paint a picture of where the technology has come and shows how its continuing to advance.
